Union Finance Secretary Dr TV Somanathan on the debt to GDP ratio

t’s what economists name a debt dynamics equation. It’s really one of many few equations in economics which really works as a result of it’s, it’s that you just take a look at what is that this 12 months’s opening inventory of? What’s your fiscal deficit, which is the incremental borrowing within the 12 months? What’s the rate of interest on the earlier borrowing and what’s the price of development of the nominal GDP and what’s your major deficit? What the important thing indicator there’s, how a lot new borrowing are you doing? So if you happen to calculate this, you may resolve what’s that deficit which is able to result in a compression of the debt to deficit, says Dr TV Somanathan, Union Finance Secretary in dialog with Raghuvir Srinivasan, businessline Editor

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